Invesco Core Correlations

ACPSX Fund  USD 9.15  0.01  0.11%   
The current 90-days correlation between Invesco E Plus and Invesco Municipal Income is 0.52 (i.e., Very weak diversification). The correlation of Invesco Core is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Invesco Core Correlation With Market

Significant diversification

The correlation between Invesco E Plus and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco E Plus and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Invesco E Plus. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with INVESCO Mutual Fund

  0.68OARDX Oppenheimer RisingPairCorr
  0.77AMHYX Invesco High YieldPairCorr
  0.8OSICX Oppenheimer StrategicPairCorr
  0.75HYIFX Invesco High YieldPairCorr
  0.76HYINX Invesco High YieldPairCorr
  0.72ILAAX Invesco Income AllocationPairCorr
  0.8PXCCX Invesco Select RiskPairCorr
  0.77PXCIX Invesco Select RiskPairCorr
  0.65BRCAX Invesco Balanced RiskPairCorr
  0.65PXGGX Invesco Select RiskPairCorr
  0.63OTFCX Oppenheimer TargetPairCorr
  0.68EMLDX Invesco Emerging MarketsPairCorr
  0.68PXMQX Invesco Select RiskPairCorr
  0.62PXMSX Invesco Select RiskPairCorr
  0.65DIGGX Invesco DiscoveryPairCorr
  0.68PXMMX Invesco Select RiskPairCorr
  0.68PXQIX Invesco Select RiskPairCorr
  0.8OCCIX Oppenheimer CnsrvtvPairCorr
  0.83STBAX Invesco Short TermPairCorr
  0.88STBCX Invesco Short TermPairCorr
  0.82STBYX Invesco Short TermPairCorr
  0.84STBRX Invesco Short TermPairCorr
  0.62MLPAX Oppenheimer Steelpath MlpPairCorr
  0.61MLPFX Oppenheimer Steelpath MlpPairCorr
  0.65MLPEX Steelpath SelectPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
VMIIXVMICX
HYINXAMHYX
VMINXVMICX
VMIIXVMINX
HYIFXAMHYX
OSMCXOSMAX
  
High negative correlations   
OSMCXVMICX
OSMCXVMIIX
OSMCXVMINX
OSMAXVMICX

Risk-Adjusted Indicators

There is a big difference between INVESCO Mutual Fund performing well and Invesco Core Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Invesco Core's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VMICX  0.36 (0.04) 0.00  0.42  0.00 
 0.60 
 4.54 
VMINX  0.37 (0.03) 0.00  0.36  0.00 
 0.61 
 4.45 
VMIIX  0.37 (0.04) 0.00  0.41  0.00 
 0.60 
 4.62 
OARDX  0.93  0.15  0.04 (3.04) 1.49 
 1.88 
 11.04 
AMHYX  0.21  0.02 (0.07) 0.53  0.28 
 0.57 
 1.74 
OSICX  0.30  0.03 (0.06) 2.01  0.32 
 0.64 
 2.23 
OSMAX  0.78  0.19  0.09  7.02  1.09 
 1.43 
 6.75 
OSMCX  0.78  0.15  0.09  0.33  1.11 
 1.44 
 6.77 
HYIFX  0.24  0.02 (0.07) 0.20  0.25 
 0.59 
 1.46 
HYINX  0.19  0.02 (0.06) 0.83  0.23 
 0.58 
 1.18